The Sniff Test: GE stock rocked again after CEO speaks, negating better-than-expected results

Shares of General Electric Co. took a dive Friday, with losses accelerating after Chief Executive John Flannery’s comments during the post-earnings conference call helped take the shine off better-than-expected second-quarter results.

The struggling industrial conglomerate reported an adjusted profit and revenue that fell from a year ago but beat analyst expectations, with even its biggest but most troublesome power business topping revenue forecasts.

The shares GE, -4.26% shot up as much as 2.7% in premarket trade after the results were released, at 6:30 a.m. ET, then pared gains to trade little changed as the conference call with analysts started at 8:30 a.m.

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